Freddie Mac CFO found dead, apparent suicide.
This seems like a relevant story, because we have not heard much from either Freddie or Fannie - two institutions that are dead center in the entire housing/financial collapse.
This morning the former CFO committed suicide. David Kellerman was only 41 and while it's possible that personal issues could have played a role, right now it is safe to speculate that whatever mistakes Freddie made during the past few years could have generated enough guilt. I have no intention in trivializing the death of a human being or making such a serious matter political, one is left wondering just how dirty and corrupt the entire relationship between Fannie/Freddie and the government was.
Specifically their operating margins that made Bear Sterns look like a walk in the park, blatant lobbying of Democrats and some Republicans, guarantee from the government to back them with taxpayer money no matter the failure and their social engineering practices. Barney Frank can certainly blow wind on capitol hill and call out AIG CEOs, but only our politicians know the full extend of the Fannie/Freddie implication and how instrumental they were in causing our current crisis.
Perhaps some people on the inside know this all too well and have found such drastic measures as their only outlet. I would have much rather prefered that the man not take his life, but instead used the rare and valuable knowledge of a CFO to fully disclose the practices of the two largest mortgage buyers in America.
This morning the former CFO committed suicide. David Kellerman was only 41 and while it's possible that personal issues could have played a role, right now it is safe to speculate that whatever mistakes Freddie made during the past few years could have generated enough guilt. I have no intention in trivializing the death of a human being or making such a serious matter political, one is left wondering just how dirty and corrupt the entire relationship between Fannie/Freddie and the government was.
Specifically their operating margins that made Bear Sterns look like a walk in the park, blatant lobbying of Democrats and some Republicans, guarantee from the government to back them with taxpayer money no matter the failure and their social engineering practices. Barney Frank can certainly blow wind on capitol hill and call out AIG CEOs, but only our politicians know the full extend of the Fannie/Freddie implication and how instrumental they were in causing our current crisis.
Perhaps some people on the inside know this all too well and have found such drastic measures as their only outlet. I would have much rather prefered that the man not take his life, but instead used the rare and valuable knowledge of a CFO to fully disclose the practices of the two largest mortgage buyers in America.
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